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Continue Reading Although some noteworthy settlements from the subprime-related securities class action litigation wave have started to accumulate (refer for example here), there are still some impressive settlements coming in from the prior scandal.In the third largest options backdating-related securities class action lawsuit settlement, Maxim Integrated Products has agreed to settle the claims against all …Continue Reading I found myself talking about options backdating for the first time in months yesterday, and it wasn’t just because of the Ninth Circuit’s blockbuster August 18, 2009 opinion (here) reversing and remanding for retrial the conviction of former Brocade CEO Gregory Reyes – although that certainly is a highly noteworthy development. Continue Reading In the latest twist in the long-running options backdating saga, and in what appears to be a significant milestone in the options backdating-related gatekeeper claims, on June 15, 2009, Vitesse Semiconductor announced (here) that it had reached a settlement with its former auditor, KPMG LLP, in connection with the option backdating related allegations. On June 9, 2009, Marvell Technology announced (here) that it has reached an agreement to settle the case for a payment …
Almost all of these cases have now been resolved, although one case continues to grind through the appellate courts.
A more recent case presents another example of a court’s similar unwillingness to approve … Continue Reading Among the many lawsuits that have flooded in as part of the subprime and credit crisis litigation wave has been a profusion of lawsuits against the mortgage-backed securities issuers and their securities offering underwriters.
Continue Reading On March 9, 2009, in a short but strongly worded opinion, Judge Andrew Guilford of the Central District of California dismissed with prejudice the third amended complaint in the subprime-related securities class action lawsuit filed against Impac Mortgage Holdings. These lawsuits, typically filed under the ’33 Act and alleging misrepresentations in the offering documents, claim that investors who purchased securities …
On September 16, 2009, he filed a lawsuit in the Northern District of …
Continue Reading In what is one of the largest ever shareholders’ derivative lawsuit settlements, the parties to the consolidated federal options backdating related derivative lawsuit involving Broadcom Corp.
